Philippine taxation

Latest issues

Strides and swipes: Expectations for credit card companies and acquirers

25 Aug 2016

The Philippine Credit Card Industry Regulation Law (Republic Act 10870) unequivocally placed all card issuers and acquirers (referred to as “covered institutions” in this article) under the supervision of the Bangko Sentral ng Pilipinas (BSP). Last week, this column discussed the benefits of the law to every Juan and Maria. This week, I will focus on the perceived impact of RA 10870 to market participants or industry players.

Buttlegging

11 Aug 2016

No, that’s not the name of a new skin-tight garment. Rather, it’s a crime that has plagued the market for decades. “Buttlegging” is the illicit trade in tobacco products, practiced in ways that avoid tax and duties, such as smuggling, or counterfeiting, which for good measure also endangers public health.

Anti-Agricultural Smuggling Act of 2016

04 Aug 2016

Taking up the SONA agenda, Agriculture Secretary Emmanuel F. Piñol has said that he is tasked with accomplishing two things -- to ensure that sufficient food for Filipinos; and to stop corruption within the agency. These objectives may be achieved with the help of Republic Act (RA) No. 10845, or the Anti-Agricultural Smuggling Act of 2016, signed by former President Benigno S. C. Aquino III on 23 May, which primarily aims to boost the productivity of the agricultural sector and protect Filipino farmers and agricultural enterprises from illegal traders and importers.

Tax Alert No. 33 [Revenue Memorandum Order No. 42-2016 dated 21 July 2016]

28 Jul 2016

Guidelines and Procedures in the Implementation of the PERA Act of 2008

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Strides and swipes: Expectations for credit card companies and acquirers

25 Aug 2016

The Philippine Credit Card Industry Regulation Law (Republic Act 10870) unequivocally placed all card issuers and acquirers (referred to as “covered institutions” in this article) under the supervision of the Bangko Sentral ng Pilipinas (BSP). Last week, this column discussed the benefits of the law to every Juan and Maria. This week, I will focus on the perceived impact of RA 10870 to market participants or industry players.

Read all Taxwise or Otherwise

Key reminders for impairment reviews

08 Jul 2016

Impairment is an ongoing area of concern for management. Regulators remain focused on this area and continue to push for increased transparency in disclosures. Entities holding significant amounts of goodwill and intangibles are at greater risk of a regulatory challenge to their impairment assessments and in particular the related disclosures of International Accounting Standards (IAS) 36, Impairment of assets.

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2016 Tax calendar

28 Dec 2012

This calendar lists all important payments and registration schedules from the BIR, SEC and other agencies.

National Internal Revenue Code of 1997

06 Sep 2007

A codal version of National Internal Revenue Code of 1997 (Tax Code). Including RR 10-2008, RR 16-2008,Consolidated Withholding Tax Regulations, Consolidated Fringe Benefits Tax Regulations

CWT and FBT Regulations Handbook: Philippines 2006

13 Aug 2013

Consolidated Withholding Tax (CWT) and Fringe Benefits Tax (FBT) Regulations Handbook: Philippines 2006